Xponance Inc. Decreases Stock Position in AT&T Inc. (NYSE:T)

Xponance Inc. cut its stake in AT&T Inc. (NYSE:T) by 0.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 964,833 shares of the technology company’s stock after selling 4,829 shares during the period. Xponance Inc.’s holdings in AT&T were worth $18,438,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of T. Frank Rimerman Advisors LLC purchased a new stake in AT&T during the 4th quarter worth about $25,000. Pineridge Advisors LLC purchased a new stake in AT&T during the 4th quarter worth about $25,000. Strategic Financial Concepts LLC lifted its holdings in AT&T by 227.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after buying an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. lifted its holdings in AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares during the last quarter. Finally, American Capital Advisory LLC lifted its holdings in AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after buying an additional 807 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on T shares. The Goldman Sachs Group started coverage on AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 target price on the stock. Oppenheimer lifted their target price on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Citigroup lifted their target price on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Evercore ISI lifted their target price on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada lifted their target price on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, AT&T has a consensus rating of “Hold” and an average target price of $22.31.

AT&T Price Performance

Shares of T opened at $21.54 on Monday. AT&T Inc. has a twelve month low of $14.12 and a twelve month high of $22.34. The stock’s 50 day moving average is $19.88 and its two-hundred day moving average is $18.35. The firm has a market capitalization of $154.45 billion, a PE ratio of 11.58, a P/E/G ratio of 3.79 and a beta of 0.59. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same quarter in the previous year, the company earned $0.63 EPS. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. Research analysts anticipate that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio is presently 59.68%.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.